Today's Interbank rates -
POUNDS TO US DOLLARS 1.5606
POUNDS TO EUROS 1.1804
POUNDS TO AUSTRALIAN DOLLARS 1.6175
EUROS TO US DOLLARS 1.3217
EUROS TO POUNDS 0.871
EUROS TO AUSTRALIAN DOLLARS 1.3702
POUND HEADLINES:
- Mortgage approvals and lending data, as well as latest
money supply statistics, are the main UK releases today. - UK consumer credit will also be released this morning. We
see net consumer credit remaining only slightly positive in November. The
key point here is that uncertain job prospects & stubbornly high inflation
are likely to weigh on real income growth & reduce the demand for credit. - UK money supply for October month-on-month comes in at
0.7% and year-on-year -0.7%
EURO HEADLINES:
- In the eurozone, economic confidence indicators and the
publication of updated macro-economic forecasts from the EU Commission are
the key scheduled events today. - The euro was steady against the dollar as markets opened
a day after European ministers agreed a bail-out for the Irish Republic.
France and Germany have also said the Republic of Ireland bail-out should
draw a line under its debt crisis. - Italian PPI for October comes in at -0.2% missing
expectations of 0.2%. The year-on-year figure is 4.0% missing expectations
of 4.2%.
- Sterling hit a two-month low against the dollar on Friday
on concern about the UK's exposure to eurozone debt as fears grow that the
crisis could spread beyond Greece and Ireland. - Focus this week turns towards Novembers employment
numbers. Recent evidence of an improving US economy has worked in the
dollars favour. - Non Farm payrolls data this week is likely to indicate a
further improvement as currencies look set to struggle against the dollar.
call me for a free quote.
Kris Charalambides
Tel: 0207 183 2790
No comments:
Post a Comment